IndiaMART's revenue rises 18% to Rs 348 crore in Q2FY25; net profit stood at Rs 135 crore

IndiaMART InterMESH Limited has announced its financial results for the second quarter ending September 30, 2024.

The company reported consolidated revenue from operations of Rs 348 crore as compared to Rs 295 crore in the corresponding quarter of last year, representing a growth of 18%.

This includes IndiaMART standalone revenue of Rs 332 crore and Busy Infotech revenue of Rs 15 crore, registering a growth of 18% and 19%, respectively, on a YoY basis.

Collections from customers grew by 6% to Rs 356 crore for the quarter, primarily comprising of standalone collections of Rs 337 crore and Busy Infotech collections of Rs 17 Crore.

Deferred revenue as of September 30, 2024, increased to Rs 1,483 crore, representing a YoY growth of 19%. This primarily includes IndiaMART standalone deferred revenue of Rs 1,426 crore and Busy Infotech deferred revenue of Rs 53 crore.

Net Profit for the quarter was Rs 135 crore, representing a margin of 33%. Cash Flow from Operations for the quarter was Rs 103 crore. Cash and Investments stood at Rs 2,449 crore as of September 30, 2024.

Standalone financial highlights (Q2 FY2025)

Standalone revenue from operations increased to Rs 332 crore as compared to Rs 281 crore last year, representing a growth of 18%.

The growth was primarily driven by around 14% improvement in realization from paying suppliers and the remaining by increase in number of paying suppliers.

Collections from customers grew to Rs. 337 crore for the quarter, and Deferred revenue as of September 30, 2024, increased to Rs 1,426 crore, representing an 18% YoY growth.

EBITDA for the quarter was at Rs 120 crore representing margin of 36%. Net Profit for the quarter was at Rs 127 crore, representing a margin of 32%.

Operational highlights (Q2 FY2025)

IndiaMART registered Unique business enquiries of 28 million in Q2FY25, representing a YoY growth of 14%. Supplier Storefronts grew to 8 million, an increase of 5% YoY and paying suppliers grew to 218K, representing a net addition of 2.4K subscribers during the quarter.

"We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows. We stay committed to the vision of “Make Doing Business Easy” and enable businesses to grow online," said Dinesh Agarwal, Chief Executive Officer of IndiaMART.

"We continue to focus on improving the experience of buyers as well as suppliers and strengthen our value proposition further. On the back of healthy cash flows and increasing internet adoption by businesses, we stay confident of the sustained profitable growth for the times to come," Agarwal added.